The World Bank (WB) Board of Directors has changed the date of approval of a loan to Azerbaijan for a road project, Report informs.
The WB Board of Directors will consider a new Regional Connectivity and Development Project on May 20.
Earlier, the Bank’s Country Manager for Azerbaijan Sarah Michael told Report that the decision on this project will be made on May 25.
The volume of the loan allocated for the project is $65 million.
The total cost of the project is $95.8 million. The project aims to provide safe, efficient and climate resilient transport connectivity and improve market accessibility along the Salyan-Bilasuvar road corridor.
The project consists of four components. The cost of the first component ‘Road Connectivity’ is $59.24 million. The main sub-component ($55.63 million) envisages rehabilitation of selected sections of the road between 31.9 km and 103.3 km.
The cost of the second component, Road Sector Sustainability, is $2 million. It is aimed to improve network management and operational efficiencies through application of intelligent transport systems, electronic tolling and heavy vehicle monitoring, and other ITS modules, including systems for early warning of weather and geohazards that will impact the road network.
The third component, Local Development and Logistics, is estimated at $2 million and includes development of road-side logistics and market facilities and pilot the implementation of identified small-scale investments.
The fourth component includes project management issues.
Azerbaijan has been in cooperation with the World Bank since 1992. The Bank has allocated about $4 billion for Azerbaijan on more than 50 projects.